Criminals made up Google's "Google Coin" blockchain project to illegally profit more than 20 million yuan

According to CCTV news, from January to September 2024, the national procuratorial organs prosecuted 4,627 people for organizing and leading pyramid schemes. Criminals took advantage of the virtuality and convenience of the Internet to fabricate "get rich scams" with many patterns and difficult to distinguish between true and false, and lure the masses to participate in them. Some people used new concepts and social hotspots such as virtual currency, blockchain, financial innovation, and charity to carry out online pyramid schemes. For example, Sheng Moumou and others organized and led pyramid schemes. Sheng Moumou and others invented Google's "Google Coin" blockchain project, publicized and hyped it through online media, and issued subscriptions to buy "Google Coin" externally. ETH (ether) was used as the settlement currency. A total of more than 60,000 members were developed, and illegal profits exceeded 20 million yuan.